There’s a lot to keep track of when it comes to tax season, including terms that you might not understand very well. The Schedule K-1 is one of these forms that comes with a lot of confusing terminology. Dedicated to assessing the income and losses of a pass-through entity, a Schedule K-1 can be tricky…
Is Capital Gains Tax Going To Increase?
Investing and saving is something that people are doing more of now. Considering the way of the world, just having a 9 to 5 job is not enough anymore, so more people are turning to alternative methods to use their spare change effectively. However, before, the tax that came with things such as capital gains…
Do Day Traders Pay Taxes?
For a lot of new investors, they see day trading as a great way to earn funds and money really quickly. The concept behind it is to make trades over a short period of time, then you can take full advantage of the short term price changes and make a profit at the same time….
Can I Get a Stimulus Check if I Owe Taxes?
For many Americans, stimulus checks have been a saving grace. In times of trouble and financial hardship, these payments have helped keep millions of Americans afloat, and they’ve also helped boost economic activity and growth to keep the country ticking over. Unfortunately, not everyone is eligible for a stimulus check. If you’ve got outstanding taxes…
Can An Illegal Immigrant Get A Tax ID Number?
There is a huge misconception that illegal immigrants who are working and earning money in America don’t have to pay any taxes on the wages they earn, as they don’t have a social security number. However, this isn’t true at all, as they still have an obligation to pay taxes just like everyone else. Illegal…
How To File An Amended Tax Return
Have you made mistakes in your tax return, and you are worried about how to fix it? Have you realized that you filled something out wrong, and you need to correct it? Have you noticed that you have missed a credit or tax deduction and want to make sure to include it? In all of…
Can I Get A Tax Refund With A 1099?
The business of filling out and filing taxes can be a complicated process, with lots of factors to tie into it. It can often be difficult just making sure that you pay the correct amount of tax and avoid any penalties. However, sometimes a person will get a tax refund, which is when they have…
Are Signing Bonuses Taxed?
If you are considering moving companies, and someone is offering what sounds like a very generous and lucrative offer, before you go ahead and jump ship, it’s important to consider how much of that signing bonus is actually available for you to spend. And that is the focus of this article, which will also answer…
Do You Need 1095 C To File Taxes?
Some employees are sent a document called a 1095 C, which contains detail and information surrounding your healthcare coverage. Technically, you don’t need to include this form with your tax return, and it doesn’t need to be sent to the IRS. Although, you can use the information that comes with the form to help you…
Do Beneficiaries Pay Taxes On Bank Accounts?
Although it’s never pleasant to lose your nearest and dearest, if they have been kind enough to appoint you as the beneficiary of one or more of their bank accounts in their will, at least that relieves some financial pressure in this trying time. However, now that you’re the owner of said bank accounts, you…